IRVINE, Calif., and OVERLAND PARK, Kan. -

Spireon is a part of new alliance aimed at rolling out a solution developed and designed exclusively for credit unions to help them track vehicles in their auto loan portfolios.

Earlier this week, Spireon highlighted a new collaboration between the company’s automotive solutions group, Sprint and CU Solutions Group (CUSG).

CUSG is a leading industry organization offering credit unions nationwide innovative solutions for improving their business operations, efficiencies and member services. CUSG has added Spireon’s LoanPlus CMS (collateral management system) to its arsenal of solutions for credit unions looking to serve a broader range of members with automotive loans while reducing their risk.

Spireon’s LoanPlus CMS is a GPS-based collateral management system that can allow credit unions to capture a wealth of real-time data about their automotive collateral’s location, movement and status, then leverage this data to improve member services, collateral management and collections.

The latest generation of LoanPlus CMS runs on the Sprint 3G nationwide network — and has been recognized as “Best Automotive Collateral Management Platform” in the M2M category during the 2014 Consumer Electronics Show (CES).

Boasting a total subscriber base of more than 1.7 million, Spireon chief marketing officer and executive vice president of products Brad Jarvis emphasized the company brings a proven technology to team with Sprint’s leading telecommunications solutions.

“This cooperative relationship between leaders in three industries — telematics, credit unions and telecommunications — offers unique advantages for credit union customers,” Jarvis said.

“CUSG will now be able to bring their credit union partners powerful, easy-to-use technology for tracking vehicles, managing collateral and reducing risk while extending loans to more members, including those with credit challenges,” he continued.

CUSG chief executive officer Dave Adams also discussed the collaboration.

“With this new affiliation, CUSG can expand our offerings for credit unions to help them grow their auto lending business and better serve their members,” Adams said. “We are excited to bring our credit union members a powerful and proven telematics solution that will help them meet their automotive lending objectives.”

Sprint played a key role in facilitating a new three-way alliance that increases a credit union’s ability to lend in the non-prime auto loan market. LoanPlus CMS is available today from Sprint and Spireon and is available to credit unions exclusively through CU Solutions Group.

“Sprint’s long-standing relationship with credit unions and CUSG has provided tremendous value to credit union members,” Sprint regional vice president Brian Miller said. “This expanded affiliation with CUSG and Spireon builds on our track record of bringing innovative solutions to credit unions across America.”

The 10th generation LoanPlus CMS operates on the Sprint 3G network and is CDMA-enabled.  David Meyer, executive vice president of Spireon’s automotive solutions group, explained this technology is geared to ensure that credit unions will remain connected to their automotive data during the term of their loans.

“Now with Sprint and our CDMA-enabled LoanPlus CMS solutions, we bring a whole new dimension of acquiring, servicing and managing the risk of auto loans for CUSG’s credit union partners,” Meyer said.

“This was evident, as we received an overwhelming response during the Credit Union National Association’s Governmental Affairs Conference last month,” he went on to say. “In addition to being able to now serve more of their credit union members, everyone will see a brighter future as the technology this partnership is bringing has future-ready built in.”

To learn more about the CDMA LoanPlus CMS running on the Sprint 3G Network, visit www.cusolutionsgroup.com/LoanPlusCMS.